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126 East Haley Street, Sant...

The Simms/Mann Family Foundation Acquires Mixed-Use Property In Santa Barbara For $13.9M
SOLDMixed-use

The Simms/Mann Family Foundation Acquires Mixed-Use Property In Santa Barbara For $13.9M

126 East Haley Street, Santa Barbara, CA, USA

$13,900,000

$419/SF

Building Size

33,133 SF

Asset Type

Mixed-use

Closing

Sep 13, 2021

AI

The Simms/Mann Family Foundation has acquired a mixed-use property in Santa Barbara for a total of $13,900,000. The property, located at 126 East Haley Street and 417 Santa Barbara Street, spans approximately 33,133 square feet. With a price per square foot of $419, this transaction represents a notable addition to the Santa Barbara market.

Summary of transation details

  • Property Type: Mixed-use
  • Transaction Amount: $13,900,000
  • Address: 126 East Haley Street & 417 Santa Barbara Street, Santa Barbara
  • Market: Santa Barbara

The seller, Cameron Pacific, represented by Brian Lezak and The Miller Family Companies, completed the transaction with the assistance of the brokerage team consisting of Sean Fulp, Mark Schuessler, and Ryan Plummer from Newmark, Paul Gamberdella from Radius Commercial Real Estate, and Willa Fields from Beitler Commercial. Their expertise and efforts contributed to the successful completion of this deal.

Players

Mark Schuessler

Colliers

Broker

$1.3B

vol

37 deals

Broker
Newmark
NewmarkBrokerage

Eric Mann

Mann Group

Buyer

$78.4M

vol

12 deals

Buyer

Santa Barbara Mixed-use Market Snapshot

Boundary boundary · Mixed-use · Sale transactions

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Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

1.14%

Cash-on-Cash

-0.33%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93